Telecoms operator Zain Saudi said its third-quarter net loss widened, citing a move in call traffic from international to national calls, and added it was in advanced talks to refinance a loan worth 9 billion riyals
($2.4 billion).
Saudi Arabia's No.3 mobile company, an affiliate of Kuwait's Zain, made a net loss of 493 million riyals in the
three months to Sept. 30. This compares with a net loss of 484 million riyals in the year-earlier period.
In a bourse statement, the company said "the principal reason for the increase in the net loss...has been the
rebalancing of significant volumes of traffic from international to national destinations."
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